The Executive Committee of PRI responsible for engagement activities on the issue of palm oil, asked Etica Sgr to sponsor another fundamental step in the battle against deforestation in Indonesia, by signing a letter addressed to the President of Indonesia, Jowoki, asking for his support in stopping deforestation and the destruction of the peat bogs.
The political situation in Indonesia regarding the fight against deforestation is becoming more and more critical and in addition to the current commitment aimed at a more sustainable production of palm oil, it risks undermining the ambition of expanding these responsible management policies to other raw materials.
Indonesia is witnessing a significant period of economic and public health crisis due to uncontrolled degradation: a particular haze (“haze”, a harmful mix of smoke and smog caused by pollution and continuous fires) is covering the country, causing respiratory infections for more than 136,000 Indonesian citizens, schools have been closed, and businesses and tourism have registered a dangerous slowdown, which is costing the government more than 45 billion dollars. Moreover, the continuously set fires (main cause of deforestation) are worsening the situation linked to climate change causing emissions that, based on some studies, risk exceeding that of the entire American economy, thus placing Indonesia among the worst coal polluters of 2015.
In this critical situation, Etica Sgr has decided to support the initiative proposed by Green Century Capital Management (Asset management company that has handled sustainable investments since 1991) which, together with the PRI Palm Oil Advisory Committee, wants to show support to the Indonesian government in the fight against deforestation and to ask the administration to support all the local companies that, despite many risks, have managed to obtain recognition form the market for their commitment and their policies against deforestation.
Etica Sgr has supported the initiative by sending its adhesion.
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